The price of bitcoin falls due to the current market situation, we do not have a feeling of total optimism, there is uncertainty and the idea of reaching 100k has faded.
I do not want to say that bitcoin is destroyed on the contrary bitcoin has strong defenders.
The market is behaving according to opportunities.
Two days ago it became official that Elon Musk bought Twitter. The news caused the price of Doge coin to shoot up from 0.12 to 0.16. Do some believe that Elon Musk is going to allow payments on Twitter with Doge?
When I am concerned about the price of bitcoin, I also check its dominance in the market and it still remains between 39% and I think there is no need to worry.
Seeing it from a speculative point of view of the market, I think that if BTC falls it is due to the action of the same market, action of whales, it is possible that the entrance of a whale causes a very large short, it is common, that is how millionaires buy , a millionaire always buys cheap, by nature that is what the BTC millionaires who acted in 2017 do, which in fact since 2017-2018-2019 have not taken action, other whales and other institutions have been entering that buy regardless the price, but the style of the BTC whales is always to go in short to buy cheap, I don't know if Elon Musk's purchase of twitter has caused it, I really don't think so.